Chevron Affirms Full-Year Net Production Guidance for 2010 (USA)

Chevron Corporation today affirmed its previously stated full-year net production guidance for 2010 of 2,750 MBOED based on the first nine months’ 2010 average WTI price of $78.

This represents a two percent increase from 2009 actual net production. The corporation is issuing this statement following a recent news report that implied the company had revised its production guidance.

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels.

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Source: Chevron, November 12, 2010;